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Chesapeake Looking to Sell Some Acreage in Ohio, Adviser Says

By Ben Lefebvre Chesapeake Energy Corp. (CHK) put large pieces of its holdings in Ohio oil fields up for sale Monday, assets that the cash-strapped company had said would yield some of the best oil it had drilled. The 337,000 net acres in the Utica and Pleasant Trend fields are the latest land holdings that Chesapeake has put up for sale as it tries to rein in $13 billion in long-term debt. The acres are in oil-rich fields, however, just as Chesapeake tries to focus its production away from natural gas, prices of which are only recently up from a decade's low. Chesapeake is selling the acres because the company is reducing its capital expenditure budget, according to documents the company sent Meagher Energy Advisors, an energy-asset-management firm. The changed budget is "altering the company's plans to develop all of its highly-prospective Utica acreage," Chesapeake said in the documents. Write to Ben Lefebvre at ben.lefebvre@dowjones.com

Stock News for Chesapeake (CHK)
DateTimeHeadline
04/20/201616:01:00Chesapeake Energy Corporation Provides 2016 First Quarter Earnings...
04/12/201602:31:00Business Watch -- WSJ
04/11/201615:23:00Chesapeake Amends Credit Facility Agreement With Lenders -- Update
04/11/201611:05:00MARKET SNAPSHOT: Stocks Extend Gains As Oil Rallies Ahead Of...
04/11/201609:40:00Chesapeake Amends Credit Facility Agreement With Lenders
04/11/201609:25:00Chesapeake Amends Credit Facility Agreement With Lenders
04/11/201608:00:00Chesapeake Energy Corporation Announces Amendment To Revolving...
04/04/201620:02:00EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class...
04/04/201615:56:00Robbins Arroyo LLP: Chesapeake Energy Corporation (CHK) Misled...
03/29/201619:27:00Chesapeake CEO's 2015 Compensation Valued at $15.4 Million, Up...
03/15/201615:40:00MARKET SNAPSHOT: U.S. Stocks Pressured As Weak Oil Offsets Consumer...
03/15/201612:44:00MARKET SNAPSHOT: U.S. Stocks Pare Losses As Consumer Staples...
03/15/201610:44:00MARKET SNAPSHOT: U.S. Stocks Track Oil's Decline As Fed Meeting...
03/15/201609:14:00MARKET SNAPSHOT: U.S. Stock Futures Extend Losses After Mixed...
03/14/201617:45:00Investigation Into Aubrey McClendon Crash Finds High Speeds...
03/14/201616:02:00Investigation Into Aubrey McClendon Crash Finds High Speeds...
03/14/201615:55:00Investigation Into Aubrey McClendon Crash Finds High Speeds...
03/14/201615:48:00Investigation Into Aubrey McClendon Crash Finds High Speeds...
03/14/201615:40:00Aubrey McClendon Crashed at 78 Miles an Hour, Investigation Finds
03/14/201615:40:00Aubrey McClendon Crashed at 78 Miles an Hour, Investigation Finds--3rd...

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